Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday said that the economic deceleration of the past several quarters has been arrested, and the economy is likely to turn around in the next six months.He said he hoped that many of the recent measures taken by the government to revive investor confidence will lead to a turnaround in the second half of this fiscal.Speaking in Mumbai, Ahluwalia said that while GDP growth is around 5.5 per cent in the first six months of the current year, it is likley to be better in the second half, possibly somewhere around 6 per cent. Ahluwalia said there are signals of an up-tick, as the industrial production index appears to have gone up a little in August, and the PMI is doing a little bit better. On the latest inflation number, which inched up to 7.81 per cent in September, he said it is better than last year but still not at the comfort level of 5 to 6 per cent.
News On AIR | October 15, 2012 6:54 PM
Economy likely to turn around in next 6 months: Montek